Clubing of income


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Querist : Anonymous

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Querist : Anonymous (Querist)
23 February 2016 Amount transferred by mother in law to daughter in law & income generated out of that amount is taxable in whose hands?
does clubbing of income section applicable?

23 February 2016 Dear
It will be clubbed in hands of mother in law.

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 February 2016 but isn't it applicable only in case of transfer from husband or FIL?

23 February 2016 Dear
Under section 64(1)(vi)Income from the assets transferred to son’s wife is clubbed.
Here son's wife for both the mother and father.
MIL and FIL both are covered as the son is of both of them.


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